- File Coin is currently trading at $4.66 with an advance of +10.1% in its price resulting in a Market Cap of $2,021,961,168.
- FIL showing a change in market structure turning bullish from a bearish trend.
- The total supply for FIL is 1,961,843,421 with a max supply of 1,961,843,424.
FIL shows strength on the charts presenting the presence of buyers. This momentum can lead to a new uptrend which can result in new higher prices in File Coin in the upcoming days.
With Filecoin, anyone can store, retrieve and host digital information on a decentralized network, using its cryptocurrency. The network of Filecoin relies on its own cryptocurrency, FIL, for payment and incentive purposes.
File Coin has 609,122 followers on Twitter and consistent growth in the number of followers can be seen. The security score for the same is 50% reviewed by Cer. live presenting 100% Platform audit coverage but a 0% Insurance score and 30 % Bug Bounty Score.
File Coin Technical Analysis
Market Structure:
Due to a negative trend in the whole crypto market, there was a huge decline in the price of File Coin but it has recently started to rebound after making a low of $2.678 and is currently trading in an uptrend making higher high structure with a rise of +168.00% in trading volume and spike of +17.52% in Open Interest. The same has also given a breakout from a falling wedge pattern and is sustaining above the dynamic trendline.
File Coin Indicator Analysis
Source: FILUSD. COINBASE.1D by TradingView
EMA:
The market has been trading in a bearish crossover due to a consistent decline in the crypto prices but has recently started to rebound and is about to give a bullish crossover and if buyers will be able to push the prices up, we can see a bullish crossover and a very good up move in the market.
RSI:
The RSI for the FIL is trading in a bullish trajectory bouncing up from the oversold zone and is currently trading above the level of 50 after hitting the 65 area line which represents strength in the market.
Conclusion
Based upon the current chart of File Coin it can be seen that the market is about to give a bullish breakout and the RSI is also trading above the 50 level and the market is forming new higher structure and there is good spike in volume of the same which represents the interest of traders in the crypto. Hence, we can see higher prices in the FIL crypto in the upcoming future event.
Technical Levels
- Support Level – 4.858 and 5.671
- Resistance Level – 3.657 and 2.743
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
